$LTC/USDT 1h (Binance Futures) Descending triangle breakdown
Updated
Litecoin broke-down the triangle and is about to retest it now.
I believe Trend-Line resistance will reject the price and we'll see further retracement down.
Current Price= 76.32
Buy Entry= 76.25 - 77.55
Take Profit= 74.43 | 73.12 | 70.93
Stop Loss= 79.37
Risk/Reward= 1:1 | 1:1.53 | 1:2.42
Expected Profit= +9.63% | +14.76% | +23.28%
Possible Loss= -9.63%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 3x
Estimated Gain-time= 72h
I believe Trend-Line resistance will reject the price and we'll see further retracement down.
Current Price= 76.32
Buy Entry= 76.25 - 77.55
Take Profit= 74.43 | 73.12 | 70.93
Stop Loss= 79.37
Risk/Reward= 1:1 | 1:1.53 | 1:2.42
Expected Profit= +9.63% | +14.76% | +23.28%
Possible Loss= -9.63%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 3x
Estimated Gain-time= 72h
Trade active
All entries filledSo far Litecoin is going as planned, let's hope it keeps going our way!
Trade closed: target reached
TP1 reached with +9.63% (3x)Trade closed: target reached
TP2 reached with +14.76% (3x)Litecoin made it to second target, unfortunately PC bot was too slow and did not notify nor take profit...
There is still a chance to go down there again but if we break the blue TL this will turn back bullish.
Trade closed: target reached
TP3 was reached with +23.28% (3x)Litecoin went for all short targets then reversed exactly as I drew it 5 days ago in yellow!
In fact you probably saw I longed that move up in Premium as well, maybe you'll join us not to miss entry next time 😉
Note
There goes the long call:
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.